Ascending Scallop Chart Pattern – School

What is Ascending Scallop Chart-Pattern
What is Ascending Scallop Chart-Pattern

What is the Ascending Scallop?

The Ascending Scallop is a multiple candlestick chart pattern that indicates that a bullish continuation is taking place. This pattern forms close to the peak of an uptrend in the market.

  • An ascending scallop pattern is a bullish continuation pattern.
  • Ascending Scallop consists of multiple candlesticks

Understanding the Ascending Scallop

The Ascending Scallop is a candlestick pattern that consists of multiple candlesticks. The first candlestick is bullish and indicates that the market is in an uptrend. The next few candlesticks reveal a slight market retracement before climbing back up into another bullish candlestick. This slight retracement forms the shape of a scallop and is where this pattern got its name.

How To Trade The Ascending Scallop

How To Trade Ascending Scallop Chart-Pattern
How To Trade Ascending Scallop Chart-Pattern

Open buy position when price break upper horizontal line (red doted upper line)

Stop lose – place your stop lose below the pattern.

Similar Pattern

Descending Scallop Chart Pattern
Descending Scallop Chart Pattern

The most similar, actually it is just opposite pattern is Descending Scallop

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